Reliance inks solar power deal with govt

Reliance Power Limited on Thursday signed a memorandum of understanding (MoU) with the state government to develop a 6,000-MW solar power project over the next 10 years. Reliance Power chairman Anil Ambani said the group has proposed to invest Rs. 50,000 crore in solar power sector in the state.

Reliance Power Limited on Thursday signed a memorandum of understanding (MoU) with the state government to develop a 6,000-MW solar power project over the next 10 years.

Reliance Power chairman Anil Ambani said the group has proposed to invest Rs. 50,000 crore in solar power sector in the state.

“We are expecting a longterm partnership. The Reliance group would also develop power transmission network along with creating basic infrastructure in these solar energy parks,” he said.

Managing director of Rajasthan Renewable Energy Corporation BK Doshi and senior executive vice-president of the company Suresh Nagarajan signed the MoU on behalf of the state government and Reliance Power Limited respectively in the presence of chief minister Vasundhara Raje and Anil Ambani.

Raje said the state government was working to create an investment-friendly environment and easy business destination for entrepreneurs in the state. “We are making efforts for partnership with the private investors so that Rajasthan develops fast in comparison to the other states,” she said.

Raje said the state had targeted to develop solar power production capacity of 25,000 megawatts. “Currently, we have prioritised private investment in cement and power sectors. The state government has high expectations from Resurgent Rajasthan summit being organised in November 2015,” she said.

“The state’s Solar Energy Policy is the most progressive one in the country. In the view of the possibilities of solar energy production here, the targets should be revised to 50,000 megawatts,” said Ambani.